Yahoo on Tuesday (ET) announced its fourth quarter results of 2011. The company revenue dropped 13 percent compared to the same period last year. Yahoo reported $1,324 million in GAAP revenue for the fourth quarter 2011 – while cost increased by 10 percent.
The company recently appointed former PayPal president Scott Thompson as the company’s new CEO and after two weeks from the appointment, Yahoo founder Jerry Yang announced his resignation from the board. The company sees a series of event from last September and now with the new CEO – investors are hoping that it will help stabilize the company future moves.
“Yahoo! continued to make progress in the quarter with operating income increasing ten percent year over year,” said Scott Thompson, Yahoo! CEO. “In 2012 we will be aligning resources behind key areas of focus to enable us to move aggressively in market and grow our business, bringing innovative new products and experiences to both our users and advertisers.”
- Yahoo! is home to 11 number one properties globally and ranks in the top three in 20 categories worldwide. (comScore, December 2011)
- Yahoo! continued to modernize its technology platforms, with additional sites across the Americas, EMEA and Asia Pacific going live on the new global Yahoo! Publishing Platform, bringing the total more than 130.
- Yahoo! acquired interclick, inc., which has built an industry-leading data valuation platform optimized to work with large data volumes across multiple providers and marketplaces.
- Yahoo!, AOL and Microsoft announced agreements to allow ad networks operated by the three companies to offer each other’s premium nonreserved online display inventory to their respective advertising customers.
- Yahoo! launched its 2012 U.S. presidential election programming, beginning with exclusive ABC News and Yahoo! News “Newsmaker” interviews with Republican candidates.
- Yahoo! launched Livestand, a personalized living magazine for iPad. Livestand weaves together content from leading third-party publishers and Yahoo!’s global media network to create a visually stunning and deeply personalized digital experience tailored to its users’ interests and passions.
- Yahoo! introduced additional products for the iPad such as Yahoo! Mail and IntoNow, an app that makes watching TV more engaging, social and fun.
- Yahoo!, in conjunction with Playtone and Reliance Entertainment, will be the exclusive online broadcast partner for Tom Hanks’ multi-dimensional animated series “Electric City”.
(Image Source: Yahoo logo)